I got people to pay me $50K in 3 days with NFTs (2021)
11 days ago
- #cryptocurrency
- #NFT
- #blockchain
- The author first explored cryptocurrency in 2011, mining Bitcoin on AWS EC2 GPU clusters, but later distanced themselves due to the hype and lack of innovation.
- Recent developments in blockchain technology, particularly smart contracts and decentralized applications (dApps), reignited the author's interest in crypto.
- Ethereum's ecosystem, with its programmable blockchain and diverse applications like Axie Infinity and Uniswap, stood out more than Bitcoin.
- NFTs (Non-Fungible Tokens) have gained mainstream attention, with high-profile sales and celebrity involvement, signaling their growing cultural and financial significance.
- NFTs offer unique digital ownership, enabling creators to monetize digital art, collectibles, and even real-world assets, with verifiable scarcity and provenance.
- The author created and sold their own NFT collection, 'Crypto Mondrian //DARK', generating over $50,000 in sales, highlighting the potential for creators in the NFT space.
- NFT marketplaces like OpenSea facilitate easy minting and selling of NFTs, with features like royalties ensuring ongoing income for creators from secondary sales.
- Despite the opportunities, the NFT space is also marked by speculation and quick flipping, raising questions about the long-term value and sustainability of NFTs.
- The author is interested in further exploring smart contracts and on-chain media generation for future NFT projects, emphasizing the importance of creativity and innovation.
- NFTs represent a significant shift in digital ownership and creator monetization, with potential applications beyond art and collectibles, including identity, access, and community building.